Finding the Right Fit for Your Home Loan Journey

Buying a home is one of the most important financial decisions a person can make, and unless you are among the lucky few who can pay cash, you’ll likely need a mortgage to make it happen. While many types of financial institutions offer mortgage loans, two main players dominate the landscape: traditional banks and specialized mortgage lenders. Understanding the differences between these two options can help you decide which is better suited for your needs.

Banks are the classic go-to for many people because they offer a wide variety of financial services under one roof. You can open checking and savings accounts, invest in retirement funds, and yes, take out a mortgage—all from the same institution. Banks often have local branches, which means face-to-face service and a more traditional customer experience. However, this convenience sometimes comes with higher interest rates or stricter requirements for loan approval. Banks tend to be more conservative with underwriting and may take longer to process mortgage applications due to internal bureaucracy or regulatory hurdles.

Mortgage lenders, on the other hand, operate with a singular focus. These companies specialize in home loans and refinancing, and some also offer related products like home equity loans or HELOCs. Because they work solely within the mortgage space, they tend to be more nimble, more knowledgeable about niche programs, and in many cases, more willing to work with borrowers who have complex financial profiles. If you’re self-employed, have lower credit, or are purchasing an unusual property type, a mortgage lender might be a better bet.

That said, mortgage lenders don’t offer full banking services, so you’ll still need a separate place to handle your everyday finances. And while many lenders offer smooth online processes, not all provide in-person support, which could be a drawback if you value face time with your loan officer. Additionally, some mortgage lenders may sell your loan to another company shortly after closing, which won’t affect your loan terms but could change your point of contact.

The choice between a bank and a mortgage lender ultimately depends on what you value most. If you already have a strong relationship with a bank and prefer having your financial accounts in one place, the bank route may offer perks like reduced fees or better interest rates for loyal customers. But if you need a faster approval process, more flexible qualifications, or a lender that understands your unique situation, a mortgage company might be the smarter move.

Beyond banks and mortgage lenders, there are other options to explore. Credit unions can offer competitive rates and personal service, especially for members. Savings and loan associations specialize in real estate financing and are known for their hometown approach. Mortgage brokers are also worth considering—they don’t lend money themselves but work on your behalf to shop around and find you the best loan deal from their network of lenders. They can be especially helpful if your application involves complexities like nontraditional income or a recent credit issue.

Mortgage brokers also serve as guides through the process. They collect your documentation, communicate with lenders, and help clear any hurdles that arise during underwriting. Although there is typically a fee for their services, the time and stress saved can be well worth the cost.

Choosing the right type of lender is not a one-size-fits-all decision. It depends on your financial profile, how comfortable you are navigating the mortgage process, and what kind of service you expect. Whether you opt for the one-stop-shop convenience of a bank, the specialized expertise of a mortgage lender, or the personalized guidance of a mortgage broker, taking the time to compare multiple offers will help ensure you land the right loan for your new home.

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A Living Legacy in Covington Where the Past Still Rings the Cash Register

On a quiet December afternoon, a little boy named Garrett Scarboro reached up for a piece of bubblegum, his short attention span momentarily caught in the swirl of holiday shopping with his grandmother. The shopkeeper, 71-year-old Larry Smith, smiled knowingly as he offered the four-year-old a candy cane from a hidden bowl behind the counter. Garrett dashed off seconds later, but the moment—fleeting as it was—could have taken place at nearly any point in the last hundred years.

This timeless scene unfolded inside H.J. Smith and Sons General Store and Museum, a fixture on Columbia Street in downtown Covington since 1876. What started as a local general store has endured across nearly 150 years, serving as both a business and a living chronicle of St. Tammany Parish history. The store’s well-worn floorboards, antique cash register, and pinewood counters speak of another era, one that the Smith family has carefully preserved through generations.

Larry Smith, great-grandson of founder H.J. Smith, is one of several siblings who now run the store. In a poetic twist of fate, young Garrett is connected to the store by ancestry too—his fourth-great-grandfather was killed just outside the shop in a shootout many years ago, a fact his grandmother shared quietly as the child wandered off.

Though the store’s bones are steeped in tradition, it has also proven resilient and adaptive. H.J. Smith and Sons still stocks skunk hats and nails by the pound. You can get a key cut by Henry “Smoke” Smith out back or pick up cedar lumber from the adjacent yard. Yet alongside these nods to the past are modern additions like air-conditioning and synthetic fleece folded beside cotton goods. A visit here is like watching time blend together—kerosene lanterns traded for fluorescent bulbs, but never at the expense of the store’s soul.

Larry calls it “the first Walmart,” a tongue-in-cheek reference to the store’s historic ability to carry whatever the community needed, whenever they needed it. From faucet washers to toy pistols, the Smiths have built a legacy on responsiveness and authenticity.

That spirit of service was seeded when H.J. Smith opened the store with his father, J.E. Smith, who had moved to Covington from Baltimore in the 1840s. At the time, the town’s commerce was driven by the timber and brick industries, and shipping routes on the Bogue Falaya and Tchefuncte Rivers linked Covington to the bustling markets of New Orleans. The general store’s strategic location along Columbia Street helped ensure its early success.

Even now, it’s the store’s flexible inventory—and the family behind it—that keeps loyal customers coming back. Robert Desadier, a horticulturist from Mandeville, has been shopping here for more than three decades. He comes for the hard-to-find items that modern big-box stores don’t carry and stays for the deep knowledge the Smiths offer. “Where else are you gonna get this?” he asks with a grin.

The Smith family itself is part of the appeal. Larry works side-by-side with brothers Smoke and Kevin. Their sister Wanda manages the books. The oldest brother, Jack, technically retired, still shows up regularly—usually with a story, sometimes with a bruise, always with good humor. Their banter echoes across the store like a soundtrack of continuity. When Jack arrived one day post-surgery, Kevin quipped, “Did they punch you or something?” Smoke burst into laughter. It’s this daily rhythm, full of teasing and camaraderie, that binds the family to each other and to the business they’ve built.

The store has even brushed up against Hollywood. In 2019, Kevin Costner filmed a scene from The Highwaymen right inside the store, giving Columbia Street a few minutes of silver screen glory. Larry gave him a tour afterward. “He spent a good bit of time here,” Larry said, “and he enjoyed history.”

That history is preserved in a backroom museum the family opened in the 1980s. Visitors can browse relics from Covington’s past, including a mummified rat accidentally discovered in a long-forgotten storage box—now a favorite among schoolchildren. There’s also a faded newspaper clipping from 1889 detailing a deadly confrontation between H.J. Smith and a man who owed him money for cottonseed. The article deemed it justifiable homicide, describing Smith as a man of “excellent reputation.”

Julian Smith, now 87, is the store’s oldest living descendant and a retired college professor. He remembers helping during World War II, selling corn and sugar to local farmers who turned it into moonshine. He chuckles now at the lessons learned from that particular brand of enterprise.

Seven generations of Smiths have now touched this place. Larry’s grandchildren stop by, and while there’s hope that one or more will one day carry on the tradition, there’s no pressure. “We’re hoping some of the grandkids get involved,” Larry says. “But I don’t want to push them. We’ll just have to wait and see.”

For now, the Smiths are content to keep doing what they’ve always done—serving their neighbors, preserving their past, and making sure that in a world of change, at least one corner of Covington still feels like home.

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